The soap market value in Armenia was $16.31 million in 2023, continuing a downward trend from 2013. Year-on-year, the market has seen varying decreases and modest increases, with a decline of 3.57% in 2023. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged -3.33%, highlighting a persistent decline in market value during this period.
Future trends to watch for include potential shifts in consumer preferences towards organic and environmentally friendly products, which could influence market growth. Additionally, economic factors and changes in consumer spending power will play critical roles in shaping market dynamics in the coming years.
| # | 52 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Indonesia | 1,657,200,000 | 2023 | +4.14% | +5.44% | View data |
| 2 | 2 United Kingdom | 1,148,200,000 | 2023 | -0.26% | +0.39% | View data |
| 3 | 3 Germany | 1,113,300,000 | 2023 | +0.59% | -0.38% | View data |
| 4 | 4 France | 1,070,200,000 | 2023 | -0.84% | -1.46% | View data |
| 5 | 5 Canada | 1,029,900,000 | 2023 | -1.1% | -1.46% | View data |
| 45 | 45 Bosnia and Herzegovina | 22,597,000 | 2023 | -0.44% | -1.42% | View data |
| 46 | 46 Mauritius | 19,510,000 | 2023 | -0.44% | -0.25% | View data |
| 47 | 47 Armenia | 16,310,000 | 2023 | -3.57% | -3.33% | |
| 48 | 48 Latvia | 15,123,000 | 2023 | -1.7% | -1.2% | View data |
| 49 | 49 Cyprus | 14,961,000 | 2023 | +5.1% | +1.16% | View data |
